Can't update income?

silentkiller

Also I just logged into Gateway to see my PAYE record and they have my estimated income as £11889 - does this mean the Tax Credit office will have this figure? It will be a little bit more than this but it's better than showing as £9000.

Darksparkle

silentkiller wrote: »

What's confusing is that on their website it says only income increases of £2500 need to be reported immediately.

If I do the renewal and put the new amount won't the credits for 2016/2017 take the value from the form not the previous year?

Anyway I've emailed our payroll person to ask for an estimate because she only works one day a week and I can't call HMRC back now as I'm at work so I'll have to call them later.

Tax credits is based on your previous years income subject to any increases and decreases in the current year. There are disregards each year.

The income disregard comparing 2014/15 and 2015/16 increases was £5000. That's why you won't be overpaid for 2015/16, because your change was less than £5000.

This changed to £2500 for 2015/16 and 2016/17 incomes.

However your current claim is still being based on the 2014/15 income of £9360 because you didn't update an estimate for 2015/16 before that tax year ended. It should be getting based on at least £11,336 so you are currently being overpaid.

It would be simple to resolve if you simply call them and update your 2016/17 income to at least £11,336 for now. You can always call back and amend it again when you get the payrise.

Darksparkle

silentkiller wrote: »

Also I just logged into Gateway to see my PAYE record and they have my estimated income as £11889 - does this mean the Tax Credit office will have this figure? It will be a little bit more than this but it's better than showing as £9000.

No, that's for tax purposes and doesn't actually do anything to your tax credit record.

silentkiller

Right okay - well I'll give them that figure for now as it's the closest I'll know until my payroll person comes back to me.

iceage3

silentkiller wrote: »

Right okay - well I'll give them that figure for now as it's the closest I'll know until my payroll person comes back to me.

I know where your coming from ,and u don't need the hassle of a overpayment

I work out that u get over £200 a week ,do u need working tax

When I was on it and full time work I was getting £30 a week it's ok if your same wage every yr.